nep-mkt New Economics Papers
on Marketing
Issue of 2019‒01‒07
four papers chosen by
Marco Novarese
Università del Piemonte Orientale

  1. Retail forecasting: research and practice By Fildes, Robert; Ma, Shaohui; Kolassa, Stephan
  2. Conned by a Cashback? Disclosure, Nudges and Consumer Rationality in Mortgage Choice By Michael King; Anuj Singh
  3. Building Destination Loyalty Using Tourist Satisfaction and Destination Image: A Holistic Conceptual Framework By Chenini, Abderrahim; Touaiti, Mustapha
  4. Methodological provisions for conducting empirical research of the availability and implementation of the consumers socially responsible intentions By Lyudmyla Potrashkova; Diana Raiko; Leonid Tseitlin; Olga Savchenko; Szabolcs Nagy

  1. By: Fildes, Robert; Ma, Shaohui; Kolassa, Stephan
    Abstract: This paper first introduces the forecasting problems faced by large retailers, from the strategic to the operational, from the store to the competing channels of distribution as sales are aggregated over products to brands to categories and to the company overall. Aggregated forecasting that supports strategic decisions is discussed on three levels: the aggregate retail sales in a market, in a chain, and in a store. Product level forecasts usually relate to operational decisions where the hierarchy of sales data across time, product and the supply chain is examined. Various characteristics and the influential factors which affect product level retail sales are discussed. The data rich environment at lower product hierarchies makes data pooling an often appropriate strategy to improve forecasts, but success depends on the data characteristics and common factors influencing sales and potential demand. Marketing mix and promotions pose an important challenge, both to the researcher and the practicing forecaster. Online review information too adds further complexity so that forecasters potentially face a dimensionality problem of too many variables and too little data. The paper goes on to examine evidence on the alternative methods used to forecast product sales and their comparative forecasting accuracy. Many of the complex methods proposed have provided very little evidence to convince as to their value, which poses further research questions. In contrast, some ambitious econometric methods have been shown to outperform all the simpler alternatives including those used in practice. New product forecasting methods are examined separately where limited evidence is available as to how effective the various approaches are. The paper concludes with some evidence describing company forecasting practice, offering conclusions as to the research gaps but also the barriers to improved practice.
    Keywords: retail forecasting; product hierarchies; big data; marketing analytics; user-generated web content; new products; comparative accuracy; forecasting practice
    JEL: L81 M20 M30
    Date: 2019–10
  2. By: Michael King (Department of Economics, Trinity College Dublin); Anuj Singh (Department of Economics, Trinity College Dublin)
    Abstract: Financial products with a cashback feature typically cost consumers more in the long run, but their popularity is rising in the mortgage and credit markets. Using a nationally representative online sample, we find that consumers who are younger, less educated and suffer from present bias are more likely to choose costly cash back mortgages. Through a series of experiments, we provide strong evidence that advanced disclosure improves financial decision making of customers and that negative nudges, or advertising, encourages prospective buyers into more costly mortgages. We also find evidence that consumers who demonstrate limited attention bias choose more expensive cashback mortgages that are financially equivalent at the point of drawdown.
    Keywords: Household Finance, Consumer Protection, Mortgages, Behavioural Biases, Marketing Nudges, Choice Experiment
    JEL: G21 G28 M3
    Date: 2018–11
  3. By: Chenini, Abderrahim; Touaiti, Mustapha
    Abstract: Regardless of the value of destination loyalty in both academia and industry, the conceptual development of literature is restricted. This present work seeks to build up a holistic conceptual framework responds to how tourist perception, destination image, satisfaction, and often related attributes can play the main role in destination loyalty. By analyzing the above crucial factors and highlight its implication in destination loyalty. In addition, provide insight into the creation of destination image and in further stage tourist loyalty. The holistic conceptual framework is developed within this research endeavour. The conceptual framework is articulated as one might hope based on tourist demand and supply factors and tourist perception, destination image (organic, induced, and complex image), and the above crucial factors comprising tourist loyalty and how each one of them can be more interactive. The outcomes of the study achieve remarkable theoretical and managerial implications for destination marketing supervisors.
    Keywords: Tourist satisfaction; Cognitive image; Destination image; Destination loyalty
    JEL: L83 M31
    Date: 2017–12–03
  4. By: Lyudmyla Potrashkova; Diana Raiko; Leonid Tseitlin; Olga Savchenko; Szabolcs Nagy
    Abstract: Social responsibility of consumers is one of the main conditions for the recoupment of enterprises expenses associated with the implementation of social and ethical marketing tasks. Therefore, the enterprises, which plan to act on terms of social and ethical marketing, should monitor the social responsibility of consumers in the relevant markets. At the same time, special attention should be paid to the analysis of factors that prevent consumers from implementing their socially responsible intentions in the regions with a low level of social activity of consumers. The purpose of the article is to develop methodological guidelines that determine the tasks and directions of conducting empirical studies aimed at assessing the gap between the socially responsible intentions of consumers and the actual implementation of these intentions, as well as to identify the causes of this gap. An empirical survey of the sampled consumers in Kharkiv was carried out in terms of the proposed methodological provisions. It revealed a rather high level of respondents' willingness to support socially responsible enterprises and a rather low level of implementation of these intentions due to the lack of consumers awareness. To test the proposed methodological guidelines, an empirical study of the consumers social responsibility was conducted in 2017 on a sample of students and professors of the Semen Kuznets Kharkiv National University of Economics (120 people). Questioning of the respondents was carried out using the Google Forms. The finding allowed to make conclusion for existence of a high level of respondents' willingness to support socially responsible and socially active enterprises. However, the study also revealed the existence of a significant gap between the intentions and actions of consumers, caused by the lack of awareness.
    Date: 2019–01

This nep-mkt issue is ©2019 by Marco Novarese. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
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